[Congressional Record Volume 154, Number 33 (Thursday, February 28, 2008)]
[House]
[Page H1158]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[[Page H1158]]
   DEMOCRATS FIGHT TO END SUBSIDIES FOR BIG OIL AND INSTEAD SUPPORT 
                            RENEWABLE ENERGY

  (Mr. MURPHY of Connecticut asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. MURPHY of Connecticut. Mr. Speaker, yesterday the House 
eliminated wasteful and unnecessary taxpayer subsidies to some of the 
largest multinational oil companies and instead invested this money in 
subsidies for regular individuals and businesses who are investing in 
clean energy. This legislation will not only help ease the pain at the 
pump for many Americans, but it will also help us get us on the road 
toward energy independence.
  This bill comes shortly after the big five oil companies reported 
their latest record profits. Earlier this month, for example, 
ExxonMobil reported earnings of $40.6 billion in 2007, the largest 
corporate profit in American history.
  Now, why should the big oil companies receive billions of dollars in 
government welfare? Well, they shouldn't. It's simply a waste of 
taxpayer dollars at the expense of our very necessary drive towards 
energy independence.
  Mr. Speaker, the House has acted on legislation that will lower 
energy costs, improve national security by making us more energy 
independent and ending wasteful taxpayer subsidies for companies that 
clearly do not need them.

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